dealflow
envelope $200M

← Targets

Encompass Health Rehabilitation Hosp

dba Encompass Health Rehabilitation Hospital Of Concord · Concord, Merrimack County, NH · CCN 303027
Licensed to Encompass Health Rehabilitation Hospital Of Concord, Inc.

Composite
31.9
rank score
Distress
9
FY2023
Fit
65
vs thesis
Estimated ticket
$3.2M–$6.5M
50 beds · within envelope
Ownership
for-profit
RH

Why it ranks here

  • 60-90 days cash on hand
  • part of a multi-hospital chain — divestiture candidate
  • rural — cheaper but limited density
  • specialty facility — narrower problem scope
  • bed count in the target band
  • very small ticket — sub-scale as a platform asset
  • strong occupancy — good iteration surface
  • for-profit — no charitable conversion review

Latest financials · FY2023

Net patient revenue$31.7M
Operating margin 25.7%
Total margin 25.8%
Days cash on hand 72
Current ratio 6.80
Occupancy82%

Facility

Beds50
Facility typeRH
Settingrural
Ownership classfor-profit
Per-bed (low) $65.0K
Per-bed (high) $130K

Financial history

FYBedsNet patient rev Net incomeOp margin Total marginDays cash Current ratioOccupancy DischargesDistress
2020 50 $26.3M $5.8M 22.0% 22.1% 95 7.70 82% 1,100 4
2021 50 $28.3M $6.5M 22.8% 22.9% 79 5.54 81% 1,166 10
2022 50 $31.9M $8.4M 26.0% 26.1% 89 9.16 84% 1,242 10
2023 50 $31.7M $8.2M 25.7% 25.8% 72 6.80 82% 1,249 9

Owners

OwnerRole%SinceType
Encompass Health Corporation
Birmingham, AL
5% or greater direct ownership interest 100 1991-07 chain
Truist Bank
Charlotte, NC
5% or greater security interest 100 2026-03
Vanguard Group Inc
Malvern, PA
5% or greater indirect ownership interest 10 2023-12
Blackrock Inc
New York, NY
5% or greater indirect ownership interest 9 2023-12
Andrew Price corporate officer 2009-11
Carey Mcrae corporate officer 2025-01
Douglas Coltharp corporate officer 2010-05
Edmund Ball corporate officer 2021-01
Edmund Fay corporate officer 2008-05
John Darby corporate officer 2016-02
John Wilson corporate officer 2017-01
Mark Tarr operational/managerial control 2017-01
Mathew Gooch corporate officer 2026-01
Melanie Lewis corporate officer 2021-08
Robert Mccallum corporate officer 2011-11
Robin Hynds w-2 managing employee 2025-05
Stephen Leasure corporate officer 2020-01
Thomas Boyle corporate officer 2020-10

Ownership changes

No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.